6. Los Angeles, CA
Major Industries: Manufacturing and tourism
Annual Growth Rate: 0.23%*
The beach, the celebrities, the palm trees, the weather, and the movie studios like Disney and Warner Bros. — sounds like paradise! Everything might be rosy about Los Angeles, except for the exorbitant cost of living. Not only is there a lack of housing in the spread out city, but that lack of housing drives up the prices on existing properties.
The city has been seeing negative net migration, with many residents moving from LA to inland areas such as Riverside and San Bernardino. Many middle-class families are leaving the Los Angeles area to find cheaper markets with more opportunities in cities such as Dallas, Phoenix, and Las Vegas.
LA’s higher-than-average cost of living (one of the highest in the world, in fact) makes it a difficult city to afford in general. But in combination with dwindling job opportunities outside of the film industry, it remains an impenetrable city.